Free Republic

A San Francisco-based hedge fund has filed a lawsuit against Theranos Inc, accusing the blood testing company of using fraudulent methods to attract an investment of nearly $100 million. The hedge fund, Partner Fund Management LP (PFM), filed the lawsuit in the Delaware Court of Chancery on Monday afternoon, a letter to the hedge fund's investors said. 'Through a series of lies, material misstatements, and omissions, the defendants engaged in securities fraud and other violations by fraudulently inducing PFM to invest and maintain its investment in the company,' said the letter, which was reviewed by Reuters.

Last year she was on top of the world, but now Elizabeth Holmes has a net worth of zero. Holmes, who is the founder of blood-testing company Theranos, was at the top of Forbes' list of the richest self-made women in America with a net worth of $4.5billion last year. However, Forbes has lowered their estimate of her net worth to nothing, amid allegations that the blood-testing company she founded in 2003 has inaccurate tests and is being investigated by federal agencies. Theranos Inc was sued on Thursday, accused of endangering customer health through 'massive failures' that misrepresented the accuracy...